2019 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 30 - A State Savings Bank Charter In South Carolina
Section 34-30-1960. Acquisition of control of state savings bank or holding company; supervision of holding company; rules or regulations.
A company or person may not acquire control of a state savings bank or its holding company without the prior approval of the board. Holding companies for state savings banks are under the supervision of the board. The board shall exercise all powers and responsibilities with respect to holding companies which the board exercises with respect to state savings banks. The board may adopt rules or regulations, definitions, and forms as necessary for the supervision and regulation of holding companies for and persons seeking to acquire control of a state savings bank and for the protection of the public investing in state savings bank holding companies including, without limitation, with respect to presumptions of control.
HISTORY: 1997 Act No. 90, Section 1, eff June 10, 1997.
